GST Registration for Partnership Firm
GST Registration: Overview
GST Registration is PAN based Registration. GST Registration is the process of registering a business under the Goods and Services Tax (GST) regime in India. The GSTIN is a unique 15-digit number that is assigned to each taxpayer registered under GST. It is used to identify the taxpayer and to track their GST transactions. GST is a value-added tax that is levied on the supply of goods and services within India. Businesses with an annual turnover of more than Rs. 40 lakhs (Rs. 20 lakhs for special category states) are required to register for GST. Even if the turnover is less than the threshold, a business may still choose to register for GST to avail input tax credit and other benefits.
Every partnership firm with an annual turnover of more than Rs. 40 lakhs (Rs. 20 lakhs for special category states) is required to register for GST. Even if the turnover is less than the threshold, a partnership firm may still choose to register for GST to avail input tax credit and other benefits.
GST Registration Fee for Partnership Firm
GST Registration Fees
(All Inclusive)-
GST Registration Certificate
-
GST User ID and Password
Documents Required for GST Registration
- Partnership Documents
- Partnership Deed
- PAN Card of Firm
- Certificate of Registration – if any
- Partners Documents
- Pan card and Adhaar Card
- Photograph
- Business Address Proof
- Rent Agreement with name of Firm
- Electricity bill
Apply Online For GST Registration
Partnership GST Registration Process
To obtain GST (Goods and Services Tax) registration, you can follow the procedure outlined below:
Step 1: Visit the GST Portal
Visit the official GST portal and click on the “Register Now” option.
Step 2: Fill out the Application Form for New GST Registration
Fill out Form GST REG-01 with the following information:
- Legal Name: Enter the proprietorship’s legal name as it appears in the business documentation.
- PAN: Enter the proprietor’s Permanent Account Number (PAN).
- Email and mobile phone number: Please include a valid email address and phone number for correspondence and verification.
- State and District: Choose the state and district in which the company is located.
- Enter the business name, constitution (sole proprietorship), and the date the business began.
- Authorized Signatory: Enter the information for the authorized signatory (proprietor).
Step 3: Verify Details and Submit Application
Verify all the information provided and apply. You may need to digitally sign the application using a Class 2 or 3 digital signature certificate or you can also verify this through Adhaar OTP.
Step 4: ARN Generation and Acknowledgment
Following submission, an Application Reference Number (ARN) will be produced, along with an acknowledgment receipt. Save this ARN for future use and tracking.
Step 5: Verification and Approval of New GST Registration Application
Following submission, an Application Reference Number (ARN) will be produced, along with an acknowledgment receipt. Save this ARN for future use and tracking.
Step 6: GST Registration Certificate Issuance
The GST registration certificate will be issued after successful verification. The certificate is available for download through the GST portal.
After obtaining GST registration, the partnership firm must file regular GST returns and comply with GST rules and regulations.
It’s essential to keep your GST registration details up to date and to file GST returns on time to avoid penalties. Additionally, consult with a qualified chartered accountant or tax professional to ensure that you meet all the legal requirements and comply with the GST regulations applicable to partnership firms in India.